Nomura Asset Management Co. Ltd. cut its position in shares of Red Hat Inc (NYSE:RHT) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 589,039 shares of the open-source software company’s stock after selling 5,115 shares during the quarter. Red Hat accounts for 0.8% of Nomura Asset Management Co. Ltd.’s portfolio, making the stock its 23rd biggest holding. Nomura Asset Management Co. Ltd.’s holdings in Red Hat were worth $80,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. grew its position in Red Hat by 16,350.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock worth $133,000 after buying an additional 981 shares in the last quarter. Quad Cities Investment Group LLC acquired a new stake in Red Hat during the second quarter worth about $134,000. Truvestments Capital LLC acquired a new stake in Red Hat during the third quarter worth about $138,000. Financial Architects Inc grew its position in Red Hat by 95.2% during the second quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock worth $137,000 after buying an additional 500 shares in the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in Red Hat during the third quarter valued at approximately $146,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of RHT opened at $172.88 on Tuesday. The company has a market capitalization of $30.58 billion, a PE ratio of 75.17, a price-to-earnings-growth ratio of 4.51 and a beta of 0.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.23. Red Hat Inc has a one year low of $115.31 and a one year high of $177.70.

Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $822.75 million for the quarter, compared to the consensus estimate of $828.12 million. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. Red Hat’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, sell-side analysts expect that Red Hat Inc will post 2.57 EPS for the current fiscal year.

In related news, CEO James M. Whitehurst sold 2,513 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $314,200.39. Following the completion of the transaction, the chief executive officer now owns 361,627 shares in the company, valued at approximately $45,214,223.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Delisa Alexander sold 960 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $120,028.80. Following the completion of the transaction, the executive vice president now owns 33,217 shares of the company’s stock, valued at approximately $4,153,121.51. The disclosure for this sale can be found here. Insiders sold a total of 3,631 shares of company stock worth $453,984 over the last three months. 0.58% of the stock is owned by company insiders.

RHT has been the topic of a number of recent research reports. Barclays lifted their price objective on Red Hat from $160.00 to $166.00 and gave the company an “overweight” rating in a report on Friday, September 7th. OTR Global downgraded Red Hat to a “positive” rating in a report on Thursday, September 13th. Royal Bank of Canada decreased their price objective on Red Hat to $169.00 and set an “outperform” rating on the stock in a report on Monday, September 17th. JPMorgan Chase & Co. downgraded Red Hat from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $150.00 in a report on Tuesday, September 18th. Finally, BMO Capital Markets decreased their price objective on Red Hat from $177.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, September 20th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Red Hat presently has an average rating of “Hold” and a consensus price target of $163.48.

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Red Hat Company Profile

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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